Atkore International Group Inc (ATKR) Expected to Announce Earnings of $0.72 Per Share

Equities analysts expect that Atkore International Group Inc (NYSE:ATKR) will post earnings of $0.72 per share for the current quarter, Zacks reports. Two analysts have made estimates for Atkore International Group’s earnings, with estimates ranging from $0.71 to $0.73. Atkore International Group posted earnings per share of $0.35 in the same quarter last year, which indicates a positive year-over-year growth rate of 105.7%. The firm is expected to announce its next earnings report before the market opens on Wednesday, November 28th.

According to Zacks, analysts expect that Atkore International Group will report full year earnings of $2.74 per share for the current fiscal year, with EPS estimates ranging from $2.72 to $2.75. For the next fiscal year, analysts forecast that the firm will post earnings of $2.92 per share, with EPS estimates ranging from $2.75 to $3.09. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Atkore International Group.

Atkore International Group (NYSE:ATKR) last released its earnings results on Tuesday, August 7th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.29. The business had revenue of $498.01 million during the quarter, compared to the consensus estimate of $444.77 million. Atkore International Group had a net margin of 7.12% and a return on equity of 56.38%.

A number of research firms recently weighed in on ATKR. Zacks Investment Research raised shares of Atkore International Group from a “hold” rating to a “strong-buy” rating and set a $29.00 target price for the company in a research report on Friday, August 10th. Royal Bank of Canada raised their target price on shares of Atkore International Group to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, August 8th. UBS Group raised their target price on shares of Atkore International Group from $27.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, August 30th. Finally, Citigroup downgraded shares of Atkore International Group from a “buy” rating to a “neutral” rating and set a $30.00 target price for the company. in a research report on Friday, September 7th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $29.25.

Atkore International Group stock opened at $19.83 on Wednesday. The firm has a market capitalization of $974.60 million, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 0.85 and a beta of 2.78. Atkore International Group has a 1-year low of $17.60 and a 1-year high of $28.67. The company has a quick ratio of 1.57, a current ratio of 2.39 and a debt-to-equity ratio of 12.18.

In other news, VP Peter J. Lariviere sold 7,292 shares of Atkore International Group stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $27.77, for a total value of $202,498.84. Following the completion of the transaction, the vice president now owns 106,670 shares of the company’s stock, valued at approximately $2,962,225.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John Patrick Williamson sold 100,000 shares of Atkore International Group stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $25.64, for a total transaction of $2,564,000.00. Following the completion of the transaction, the chief executive officer now directly owns 328,385 shares of the company’s stock, valued at approximately $8,419,791.40. The disclosure for this sale can be found here. In the last three months, insiders sold 129,970 shares of company stock valued at $3,378,805. Insiders own 68.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Northern Trust Corp lifted its stake in shares of Atkore International Group by 2.8% during the 1st quarter. Northern Trust Corp now owns 377,328 shares of the company’s stock worth $7,490,000 after buying an additional 10,285 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Atkore International Group by 2.7% during the 1st quarter. BlackRock Inc. now owns 1,920,151 shares of the company’s stock worth $38,115,000 after buying an additional 49,601 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Atkore International Group by 96.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 772,058 shares of the company’s stock worth $15,325,000 after buying an additional 379,629 shares during the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of Atkore International Group during the 1st quarter worth about $1,569,000. Finally, James Investment Research Inc. acquired a new stake in shares of Atkore International Group during the 2nd quarter worth about $2,237,000. 95.71% of the stock is owned by institutional investors.

About Atkore International Group

Atkore International Group Inc manufactures and distributes electrical raceway products in the United States and internationally. The company's electrical raceway products include electrical conduits and fittings, armored cable and fittings, cable trays and mounting systems, and fittings for the non-residential construction, renovation markets, and mechanical products and solutions (MP&S) for the construction, and industrial markets.

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